Santa Cruz, CA (PRWEB) October 05, 2020 — Here is a summary of our key findings. To read the full report and watch the video, see the link below.Key Are you sure you’re not overpaying for CBD oils? Check out our CBD oil cost comparison with all the factors that affect the price of high-quality products. Cost of CBD oil may range from $40 to $200 or even more. It's determined by the ingredients and the process used to create the product. Learn more.
How much does CBD cost? 856 CBD prices analyzed
CBD Examine analyzed the prices of 856 CBD oils from 263 companies to answer the question, “Are you paying too much for CBD?”
Cost per mg of CBD; 856 CBD Oils
SANTA CRUZ, Calif. (PRWEB) October 05, 2020
Here is a summary of our key findings. To read the full report and watch the video, see the link below.
- The average cost per milligram of CBD in 2020 is $0.099 (about 10 cents).
- Full-spectrum products (products with CBD, THC, and other cannabinoids) are the most expensive, with an average CBD cost per milligram of $0.104.
- Broad-spectrum products (products with CBD, other cannabinoids, and NO THC) have an average CBD cost per milligram of $0.097.
- Pure CBD products (CBD isolate, NO THC, and NO other cannabinoids) are cheaper, averaging $0.075 per milligram of CBD.
About CBD Examine: CBD Examine shows consumers what’s inside their CBD products. Our independent lab reports empower consumers with the cannabinoid levels, accuracy, honesty, and value of their CBD products.
How Much Does CBD Oil Cost? 7 Factors Affect Price
The cost of CBD oil is influenced by several factors.
Despite the growing popularity of hemp and the maturity of the CBD market, the prices have hardly gone down — and nothing seems to change anytime soon.
When you calculate the production cost of CBD products, including organic farming, clean extraction methods, and third-party testing, it becomes clear that CBD oils can’t be cheap.
Of course, there are a lot of high-quality products that you can buy without spending an arm and a leg, but the word “cheap” and “CBD oil” just don’t go well together in one sentence.
A 1 ounce (30 ml) bottle of CBD oil may cost anywhere from $30 to more than $200, leaving many people wondering why, on earth, would anyone pay so much for a plant-based extract?
As we said, there are a lot of factors involved.
In this article, we break down the cost of CBD oils and other hemp-derived products. We’ll also share a few tips on how to get your hands on high-quality CBD oil without overpaying for it.
How Much Does CBD Oil Cost?
The best CBD products can cost between $0.02 and $0.2 per mg CBD on average.
The larger the volume, and the higher the potency, the more you’ll need to pay for CBD oil. However, the initial cost will pay you off over time, as higher strengths and bigger bottles are more affordable in the long run.
CBD prices are mostly determined by the source of hemp, method of production, and overall levels of potency. The better brands use non-GMO, organically grown hemp that is free of pesticides and other contaminants. Quality control is another essential factor. Reputable manufacturers test every batch of their products in third-party laboratories for potency and purity. The more advanced testing is employed, the higher the cost of CBD oil.
You may be tempted to buy CBD at gas stations, smoke shops, or in online marketplaces, but it’s not the best idea because such products are usually mislabelled; some of them contain hemp seed oil instead of CBD oil, whereas others may contain higher levels of THC than 0.3%, which may be illegal where you live on top of getting you high.
The price of CBD can also vary based on the type of product.
Here’s how much you’ll pay for CBD depending on the form you’re using.
The Cost of CBD Oil
The cost of CBD oil can range between $0.04–$0.20 per mg of CBD. On average, the higher quality CBD oils generally cost around $0.13 per mg.
The Cost of CBD Vape Juice
High-quality CBD vape oils generally start at $0.07 up to $0.20 per milligram of CBD. Premium products are priced a bit higher, typically around $0.10 per mg.
The Cost of CBD Topicals
CBD creams are made for localized skin problems and discomfort relief. They are far from cost-efficient, as they offer much lower bioavailability than tinctures and vapes. CBD topicals typically cost around $0.20–$.0.30 per mg of CBD. The average cost of premium CBD creams is around $0.25 per mg.
The Cost of CBD Capsules
Similar to CBD oil, capsules are priced at around $0.10 per mg of CBD, with premium brands coming at around $0.13.
Factors that Affect CBD Prices
CBD oil is a pricier wellness supplement, but there are many factors that contribute to its overall costs. Many quality control and manufacturing measures go into creating a reliable CBD product that other dietary supplements can skip. Some factors affecting the cost of CBD oil include:
The best CBD companies use organic hemp as the source of their CBD extracts. Hemp plants are dynamic bioaccumulators; in a more human-like language, it means they easily absorb every substance from the environment they grow in — both the good and the bad ones. Organic farming helps ensure the high purity of the sourcing material, making it also richer in CBD and other active compounds.
CBD can be extracted using different methods, from hydrocarbon solvents to alcohol and CO2. Hydrocarbon solvents are the cheapest but they are also the most difficult to purge from the final product. If purified improperly, these toxic residual solvents will interact with your body. Alcohol extraction is better but it doesn’t provide the highest cost-efficiency. CO2, in turn, is the industry’s standard because it can efficiently pull the beneficial compounds from the plant without introducing high temperatures and aggressive solvents. However, the equipment and employers required to run this type of extraction are expensive, which translates into a higher final price of CBD oil.
There are three types of CBD extracts: full-spectrum, broad-spectrum, and isolates.
Full-spectrum CBD is the closest to the original plant. It contains all cannabinoids and terpenes naturally occurring in hemp, including trace amounts of THC (0.3% or less). These products are considered superior to other forms due to higher efficacy and more predictive dosing. This makes them more expensive than broad-spectrum CBD and isolates.
Broad-spectrum CBD is much like the full-spectrum version — but without any THC.
CBD isolate is exactly what it sounds like — pure, isolated cannabidiol. This is the cheapest form of CBD out there. However, it is considered less beneficial than full-spectrum and broad-spectrum CBD due to the lack of synergy from other hemp compounds.
While products with higher concentrations of CBD are more expensive, they also come with better value. That’s because they provide a lower cost per mg of CBD. It’s like with anything you buy in bulk to save money; a stronger CBD oil will give you more CBD and will last longer than a less potent product.
Some CBD products may contain premium ingredients, such as USDA-certified organic MCT oil, organic honey, or natural flavorings — all of which can increase the price of the product. If you’re shopping for CBD oil with a goal to find a truly organic product, the extra cost may be worth it.
Third-party testing is a must for all hemp-derived products. A certificate of analysis (COA) from a laboratory that has no affiliation with the manufacturer provides unbiased and trustworthy results. These laboratories test CBD oils for potency, overall cannabinoid, and terpene profiles, and look for common contaminants like pesticides, heavy metals, fungi, and residual solvents. In-depth testing can cost more, which also increases the price of the end product — but it also provides better evidence of quality, safety, and transparency of the company.
This is perhaps the most obvious factor affecting the cost of CBD oil. Discounts and coupon codes lower the overall cost of an order. You can usually find them online on special occasions. Some companies offer discounts for signing up for their newsletter, while others have special reward programs for returning customers.
Why Do People Pay So Much for CBD Oil?
The main reason why people want to pay a higher price for CBD products is the wide range of CBD’s potential health benefits. People buy CBD products to help with stress, physical discomfort, poor sleep, concentration, and a general sense of balance and well-being. It’s a versatile health supplement that can enhance your wellness along with a balanced diet and active lifestyle.
CBD rarely produces any negative side effects, which can be completely avoided by proper dosage and responsible use. It’s also important to note that while many people include CBD oil in their wellness routine, hemp-derived CBD products aren’t regulated by the FDA and thus are not intended to treat, diagnose, or prevent any disease. If you have a serious medical condition or take prescription medications, it’s best to consult with your doctor before buying CBD oil.
How to Tell If Your CBD Is Worth the Cost
Companies can say what they want (literally), but there’s one surefire method to determine whether or not you’re overpaying for CBD.
You can calculate the cost per milligram of CBD — it’s very simple.
Calculating the Price per mg of CBD
If you want to calculate the price per mg of CBD, you’ll need to take into account two variables: the total potency of CBD (in milligrams), and the price. Then you just divide the price by the amount of CBD in milligrams to determine the price per milligram.The number of milligrams on the label indicates the total amount of CBD in your product.
Price ÷ total mg CBD = price per mg
Example: $109 ÷ 1200 mg = $0.09 per mg
So if a bottle of CBD oil costs $109 and contains 1200 mg of CBD (in a 30-mL bottle), it means you’re paying roughly $0.09 per mg of CBD, which is a very reasonable price.
Keep in mind that CBD oil has a higher bioavailability than capsules or edibles. This means that even if you’re paying the same price per mg, your body is actually going to get more benefits from that dose.
How to Get the Best Deals on CBD
Now that we’ve established an easy way of assessing the affordability of CBD oils, it’s easier to compare prices. If you’re looking for the best prices for premium CBD oils, be sure to look for coupon codes online. They are available on different forums, social media groups, expert blogs, and third-party cannabis websites.
Here are a few handy tips:
- Look at the price per mg, rather than bottle size, when comparing the cost of CBD oils
- The more CBD you buy at a time, the longer it will last, and the more CBD per mg it will provide.
- Vaping has the highest bioavailability and is the most cost-effective consumption method.
- CBD oils are the second-best in terms of bioavailability.
Will CBD Prices Come Down in the Future?
Industry experts estimate that the price of CBD oil will come down in the future, but not for the next few years.
The major driver behind the cost is the regulatory environment we’re living in, which has limited the number of products manufacturers can do.
It also takes time and lots of financial resources to build out the infrastructure required for making high-quality CBD oil. In many places, hemp was kept illegal until the 2018 Farm Bill, so some states simply have fewer farms than others. This, in turn, introduces a disproportion in the number of hemp producers.
Not to mention that testing regulations are often much stricter for CBD and cannabis in general than for other herbal supplements or oils.
So, while the prices of CBD oil will definitely go down as the market matures and the competition continues to grow, CBD products will never be as cheap as any off-the-shelf pharmaceutical or herbal supplements. There are simply too many factors involved in the cost of CBD oil for the dream to become reality.
How much should CBD oil cost in your opinion? Share your thoughts below in the comment section!
What is the Cost of CBD Oil?
How much does CBD oil cost? Cannabidiol (CBD) is a rapidly emerging industry across the U.S. as a wellness product for humans and pets. This substance is derived from hemp plants and is used to treat conditions including depression, anxiety, inflammation, and others. CBD is marketed in the form of oil, lotion, soft gels, candies, and more.
One common concern among consumers is the cost of CBD. When shopping for CBD oil online you will encounter a wide range of price differences. A 500mg bottle of CBD oil may range from $40 to over $200. It is critical to ensure that you read the ingredients carefully.
What is Cannabiodiol (CBD)?
CBD is a natural product sourced from hemp plants that are used in a variety of ways. In a pure isolate form, CBD is a white powder that has no scent or taste. It is seamlessly mixed with other ingredients and dissolves in liquid.
The manufacturer of CBD oil is responsible for the purity, quality, and safety because the FDA does not regulate it yet. Unlike the Tetrahydrocannabinol (THC) substances derived from marijuana, CBD is not psychoactive and does not produce a “high.” The same applies to hemp, which is also a derivative commonly used in industrial applications.
Full Spectrum “Entourage” Effect
In contrast to isolate, “full-spectrum” CBD oil refers to oil that contains other cannabinoids found within the plant. Therapeutic advantages are shown to exist in clinical trials from the multiple compounds referred to as the “entourage” effects of CBD. Manufacturers continue to modify and test various mixtures to determine optimum formulas for different treatments.
The other substances contained may include proteins, fiber, terpenes, and others. The leading companies that produce these products will have their oil tested by independent laboratories. These oils are then properly labeled with the ingredients and clear instructions regarding the dosage and administration.
The Agricultural Marketing Resource Center recently discussed the confusion that is largely associated with marijuana and hemp. Industrial hemp is a highly fibrous material that does not contain significant levels of the psychoactive THC in marijuana. The level of THC found in marijuana is generally between 3 and 30%. Industrial hemp typically contains less than 1%.
Factors Influencing CBD Oil Cost
Those who produce an “organic” product emphasize this as a contributing factor in their “premium” level oil. Even if the oil is not fully organic, it must not contain harmful chemicals such as pesticide. There are fundamental costs in growing the plant, which obviously will require seeds, labor, and equipment.
Some farmers or those possessing large areas of land choose to lease their land to growers. A report in Oregon stated that lease pricing varied considerably from between $1,000 to $5,000 per acre. This seems like a considerable expense; however, reports suggest that an acre of land can generate more than $40,000 in profits.
The soil is generally covered when growing these plants except for a section where each plant rests. A thin sheet of plastic is typically used for this. It serves the same function as mulch would in weed prevention. There is now a more costly eco-friendly plastic that is biodegradable. One report stated that a 4,000-foot roll of biodegradable plastic was priced at $225 versus $115 for a traditional roll.
The plastic sheeting cost for a 50-acre farm can exceed $20,000. Biodegradable sheeting does not require removal and disposal, as it is simply tilled back into the soil. There is some optimism that sheeting made from hemp will soon be developed. In Minnesota, a farmer estimated that harvesting the plants costs roughly $300 to $600 per acre. This cost has been declining considerably in recent years as more efficient methods are developed.
After harvest, the plant must be separated. This is often completed using a decortication machine that separates the components. Following decortication, the extraction is conducted to access the cannabinoids, flavonoids, terpenes, etc. Two of the most popular ways that extraction occurs include CO2 and ethanol.
A CO2 extraction machine is estimated to cost between $135,000 and $150,000. Also, there is at least another $20,000 in costs for an evaporator and centrifuge. After the cannabinoids and other substances are extracted, it is necessary to remove acids through decarboxylation. This is completed using an oven that costs approximately $5,000 to $7,000. At this stage, the oil is said to be in “full-spectrum” form.
To remove unwanted remaining properties, a distillation process is used. THC may be removed using a chromatography machine. The final product will have been tested, packed, and distributed for use.
Legal and Insurance
Companies operating in the CBD market may benefit from consulting with an attorney. This is important for compliance with volatile current laws and to navigate “gray” areas unique to working with cannabis plants. As with any organization, proper liability insurance should be maintained and is an additional cost which can influence the cost of CBD.
Some organizations that work in this industry may be restricted from taking credit card orders. Fortress Payment Technologies, a card processor, recently informed merchants that they are no longer offering Visa processing for CBD-related businesses. Meanwhile, Elavon, a division of U.S. Bank, announced they were going to be servicing this industry.
Companies involved in the cannabis industry have difficulty accessing traditional banking and credit services. A recent Forbes article explained that many such businesses have been Compliant: CBD producers must navigate the laws of their state. CBD producers that use hemp to produce their oil rather than marijuana are unlikely to encounter federal restrictions. Currently, CBD is not allowed to be marketed as a “dietary supplement.”
Price of CBD Oil for Pets
CBD products geared for pet usage is a rapidly emerging market. A CNBC article estimated sales in 2017 as being $8 million and it rose to $32 million in 2018. According to projections, the market could surpass $1 billion by 2022. The CBD oil for pet products are also likely to vary widely in overall quality.
Leading Producer of Full Spectrum CBD Oil
Cannafyl™ is an established manufacturer of CBD-infused products that are designed for both human and pet consumption. We have maintained a tightly controlled process of manufacturing that ensures quality and consistency. Our oils are of the highest quality and are thoroughly tested by independent laboratories. Visit our website or contact our office at (480) 599-1003 to purchase CBD oil or for additional information.